Here’s when gas prices will drop in Ottawa

A Shell gas station in Ottawa on March 2, 2026. (Dave Charbonneau/CTV News Ottawa)

Despite soaring gas prices across Canada in response to the war in Iran, experts say drivers can expect to see some relief this week.

Canadians for Affordable Energy president Dan McTeague tells CTV News Ottawa that prices for regular gasoline will increase by one cent overnight into Wednesday before dropping eight cents per litre starting on Thursday.

Prices for diesel will also drop 12 cents per litre on Thursday.

According to GasBuddy.com, the average cost of gas in Ottawa has surged by nearly 20 cents in the past two weeks.

At gas pumps across the city on Tuesday, many stations saw prices hovering around $1.54 per litre.

McTeague says the drop comes after comments from U.S. President Donald Trump signaling that the Mideast war could end soon.

“I think the war is very complete, pretty much. They have no navy, no communications, they’ve got no Air Force,” Trump told CBS News Monday.

Oil prices fell and the U.S. stock market closed higher after Trump made the comments.

The Strait of Hormuz is one of the world’s key oil transit chokepoints, carrying roughly a fifth of global oil and ​liquefied natural gas flows. The war has left the critical shipping passageway shut.

The United States and Israel began attacking Iran on Feb. 28 and Iran responded with its own strikes against Israel and Gulf states with U.S. bases.

With files from Reuters

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